Individual Portland Apartment Sales >$450K – First Half 2014 and Projections | 7 August 2014

<<<2014-FirstHalf_PortlandArea_AptSales>>>

RIGHT-CLICK ABOVE LINK (and SAVE LINK AS) TO DOWNLOAD THE DETAILED REPORT

Attached is a list of individual Portland-area sales of apartment complexes greater than $450,000 for January-June 2014.  Included are $/unit, $/sqft , unit count, year built and Cap Rate (as reported) and a comparison to 2009-2014 averages and a 2014 projection.

• There is a lack of inventory which means buyers are driving prices. However, most likely any market change will be related to an interest rate rise.
• Clark county has had a large drop in sales from 2013 so far. However, 2013 had several large sales.
• Clackamas county should have a large jump in sales due to several large sales near Clackamas Town Center.
• Multnomah county took a large jump in $/unit average pricing so far in 2014, this is driven by one large sale at $450K/unit.
• $/sqft and CapRates have remained constant. However, CapRates are REPORTED and not available in all cases.  Prime properties in prime locations are <5% CapRates
• While total transaction dollars are probably going to equal 2013 (as of now), total transaction count and total individual units project down from 2013.

We will be posting in the near future:

– A XLS with new apartment construction from 2013 thru estimated 2016 with addresses

As always, if you’d like earlier copies, let me know.

If you’d like more information on:

– Details/background on individual sales or

– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

Please contact me:

Steve Morris – Senior Advisor Multi-Units
Sperry Van Ness – Bluestone & Hockley
steve.morris@svn.com  / (503) 970-4593

OR Principal Broker License 2002002054 / WA Managing Broker License 24512